Ceylon Fishing Industries Ltd

History and Nature of the Company Ceylon Fishing Industries Limited

 

 CFI - History 1st Started as Osaki in 1998

Sheikh Riyal Bin Ismail founded M/S. Osaki Fishing Industries Lanka Private Limited and that Has Been Established on 1998.  The Company was approved by the BOI (Board of Investment of Sri Lanka) and also the Ministry of Fisheries and Aquatic Resources, for the purpose of building the Nation and Making a new lifestyle for Fishermen and for the Community.  Many Incentives were granted for Immediate Implementation.

This company Main objective was to contact Offshore & Deep Sea Fishing, thereby to Set-up a Fish Processing, Canning, and Fish Meal Plant together with Industrial Fishing vessel Operations and provide Logistics Supplies.  That In order to revolutionize the lifestyle of Sri Lankan Fishermen and the Entire Communities.

This project was Politically Motivated by our President H. E. Mahinda Rajapaksa.  Who also approved this project when He was the Minister of Fisheries and Aquatic resources of Sri Lanka in 1998.  In addition, this project was encouraged by the Minister of Ports, Shipping, Rehabilitation and Reconstruction the Late Hon. Minister M. H. M. Ashraff.  Moreover, this Project is now Politically, Strongly again motivated by the Hon. Minister of Fisheries & Aquatic Resources, Dr. Rajitha Seneratne. The project was delayed due to the 30 years of Civil war and non-existence of Oluvil Port during the period of 1998, and was postponed due to the Tsunami of 2004, which had greatly affected the launching of the project for its early implementation.

While thanking the Sri Lankan Government for the Construction of the new Commercial and Industrial Fisheries harbor in Oluvil Port with Fish processing plant that has been funded by Nordea Bank, in Euro 46.3 Million.
CFI-History Born again on 25th July 2011 This Company is now Re-Established and Re-Incorporated under the Company Act No. 7 of 2007 as Limited Liability Company under the Name of “Ceylon Fishing Industries Limited” and issued a Certificate of Incorporation by the Registrar General of Companies of Sri Lankan Government on 25 July 2011 in Colombo.

The Company was comprised of Five Directors; subsequently the Company was able to increase its Directors to 15.  In addition, intends to increase its shareholders by a public issue of shares, when the Company needs to increase the Source of Investment for the regular expansion of the Company.  This Company was formed to focus Research & Development on the Entire Marine Activities of Offshore and Deep Sea Fishing.  Thereby set-up Fish Processing, Canning and Fish Meal Plant that to be one of the Industry of Sri Lanka, thereby to Create and Expand the rapid Exports of Fresh, Frozen, Canned, Dry Fish and Fishmeal Products, to provide and satisfy the requirements of the Domestic Market, In addition to this strongly provide supports to Secure the Food Security of the Nation, as well as to Feed the Regional & International Markets; Especially USA, UK and Rest of the EU Countries, As well as Middle East, African Regions & Continents.

 

CFI- Core Aims and Targets

The Company was formed with several core-aims and targets for achievements to Create and Expand the Social Developments, Increase Employment Opportunities, thereby supports Government policies to eliminate poverty in Sri Lanka, to support the Growth of Local GDP (Gross Domestic Product), as well as increase per Capita Income, to increase the Per Capita Fish Consumption in this Island.  Moreover, to support strongly for the Food Security Program in the nation.  In addition, Increase the Quality of Products while maintain EU & US standard with due care to increase (Protein Food Consumption).  That will benefit the entire Ceylon Citizens as well as other nations where CFI Projects, preparing to launch its own Fisheries Projects.

CFI-Capital Structure

The Capital structure of the Company has been well structured and that has been authorized in Euro 500 Million as the Total Capital of the Company:

The CFI is seeking for trustworthy and reliable, potential source of Foreign Funds with low interest with re-payment period of 25 - 30 years, with grace period of 3 years from Interested lending Organizations.

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